Dimensional Fund Advisors LP recently announced the acquisition of new stake in Primerica Inc. (NYSE:PRI). The institutional investor has increased its shareholding in the Financial company by 3.03% to 0.79 million shares with purchase of 23225.0 shares. This fresh investment now brings its stake to 2.14% valued currently at $112.0 million.
With over 89116.0 Primerica Inc. (PRI) shares trading Tuesday and a closing price of $154.07 on the day, the dollar volume was approximately $13.73 million. The shares have shown a positive half year performance of 24.17% and its price on 01/24/23 gained nearly 1.22%. Currently, there are 37.44M common shares owned by the public and among those 36.65M shares have been available to trade.
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Insiders at the company have transacted a total of 89 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 62 of these insider trades were purchases, accounting for 65,531 shares. Insider sales of the common stock occurred on 27 occasions, with total insider shares sold totaling 55,754 shares.
The top 3 mutual fund holders in Primerica Inc. are Baron Growth Fund, iShares Core S&P Mid Cap ETF, and Vanguard Total Stock Market Index. Baron Growth Fund owns 1.5 million shares of the company’s stock, all valued at over $212.73 million. The company sold 20000.0 shares recently to bring their total holdings to about 4.07% of the shares outstanding. iShares Core S&P Mid Cap ETF sold 217.0 shares to see its total holdings shrink to 1.14 million shares valued at over $161.44 million and representing 3.09% of the shares outstanding. Vanguard Total Stock Market Index sold 139.0 shares to bring its total holdings to over 1.12 million shares at a value of $159.5 million. Vanguard Total Stock Market Index now owns shares totaling to 3.05% of the shares outstanding.
Shares of Primerica Inc. (NYSE: PRI) opened at $152.10, down -$0.12 from a prior closing price of $152.22. However, the script later moved the day high at 154.88, up 1.22%. The company’s stock has a 5-day price change of 1.53% and 13.99% over the past three months. PRI shares are trading 8.64% year to date (YTD), with the 12-month market performance up to 2.97% higher. It has a 12-month low price of $110.22 and touched a high of $159.47 over the same period. PRI has an average intraday trading volume of 113.81K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.86%, 7.51%, and 16.96% respectively.
Institutional ownership of Primerica Inc. (NYSE: PRI) shares accounts for 94.90% of the company’s 37.44M shares outstanding. Mutual fund holders own 40.35%, while other institutional holders and individual stakeholders account for 52.97% and 30.17% respectively.
It has a market capitalization of $5.52B and a beta (3y monthly) value of 1.22. The stock’s trailing 12-month PE ratio is 21.37, while the earnings-per-share (ttm) stands at $7.21. The company has a PEG of 2.04 and the debt-to-equity ratio at 1.25. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.03% over the week and 1.81% over the month.
Analysts forecast that Primerica Inc. (PRI) will achieve an EPS of $2.94 for the current quarter, $3.16 for the next quarter and $13.45 for 2023. The lowest estimate earnings-per-share for the quarter is $2.83 while analysts give the company a high EPS estimate of $3.04. Comparatively, EPS for the current quarter was $2.98 a year ago. Earnings per share for the fiscal year are expected to decrease by -2.00%, and 20.13% over the next financial year. EPS should shrink at an annualized rate of 10.47% over the next five years, compared to 15.40% over the past 5-year period.
Morgan Stanley coverage for the Primerica Inc. (PRI) stock in a research note released on May 19, 2022 offered a Equal-Weight rating with a price target of $148. Jefferies was of a view on January 26, 2022 that the stock is Hold, while Wolfe Research gave the stock Peer Perform rating on January 21, 2022, issuing a price target of $163. Morgan Stanley on their part issued Overweight rating on September 15, 2020.
